6 Financially Smart Alternatives to Buying an Engagement Ring


Here’s another interesting post from our friends at Savvy Sugar. Check it out:  

Wedding fever has spread at Sugar HQ, and while I was researching some prenuptial figures, I came across an interesting quote in a piece by The New York Daily News: “I hear brides saying, ‘I don’t want the engagement ring. I want the house,’” said Kathleen Murray, former deputy editor of The Knot.

What an intriguing notion! If savvy brides could forgo the enchanted ring, think about the possibilities your soon-to-be household could attain. We know the average cost of an engagement ring in 2011 was about $5,130, so I’ve rounded up big-ticket items essential for starting a new family that equals your future finger bling. Which one will you want more?

To see Savvy’s pick for ring alternatives, read the rest of the post here.

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  • Sjdemo

    who says you have to have a diamond engagement ring anyway? (answer: the diamond industry. it was their marketing ploy to increase sales, along with creating myths about other stones [ever hear it's bad luck to wear opals unless that is your birthstone?])
    after looking at countless diamond engagement rings i was dizzy. they started to all look the same, and they were too bright under all those jewelry store lights. too flashy for my taste. i went with my birthstone — a huge peridot solitaire, on a yellow gold band. i get compliments on it everywhere i go, and while i truly love my ring i also love knowing we got it for a mere 83 dollars!!

  • Diana

    I think sometimes it’s men more than women who feel the societal standard on buying a diamond engagement ring (or a diamond of a certain size etc…) it’s as if they are under pressure for their choice from more than just their fiancee.

    I’d be perfectly happy with a semi-precious stone, but my partner insists on getting something more “valuable” despite my attempts to find affordable options.


    I did the expensive diamond thing the first time around…and it was a flop. If I ever get married again I either want just a plain band or a cheaper ring. No sense spending a ton of money on a ring when it could be spent on more practical things. I’m not a gold digger…I’m ok with CZ’s as long as the love is real!!

  • Carissa

    To the editor, there are also alternatives that not many people know about including clarity enhanced diamonds, natural GIA certified HPHT diamonds, and laser drilled diamonds. While I personally favor natural HPHT, these are choices that allow all budgets get the carat size and color, and clarity they want. I invite your email where we can discuss more – it’s a perfect topic for learnvest.com.